Restricted advice proving most attractive to younger generations

Restricted advice generate around one third of the sector’s income

Hope Coumbe
clock • 1 min read

The majority of 18-34 year olds find the restricted advice model more appealing than the independent one, according to The Lang Cat.

The consultancy's ‘The Advice Gap 2024' report – published today (3 July) – noted the industry had debated "various flavours" of the independent versus restricted debate "decades". Slightly over half of those aged 18-24 surveyed signalled restricted advice sounded more appealing than independent advice. Among respondents aged 25-34, more than 40% also pointed at restricted offerings as more appealing. Restricted advice firms currently make up around 10% of the market, but generate almost a third (32%) of the sector's overall income, the report estimated. The trend towards appeal...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advised clients want more personal investment communication

Advised clients want more personal investment communication

Four in ten say comms focused more on product than goals

Jenna Brown
clock 12 November 2026 • 3 min read
How economic abuse manifests itself in pensions, mortgages and protection

How economic abuse manifests itself in pensions, mortgages and protection

Second in a three part series

Shelley Read
clock 11 November 2026 • 5 min read
Celtic FP founder launches online admin platform for advisers

Celtic FP founder launches online admin platform for advisers

‘Developed by people who understand the industry’

Jenna Brown
clock 10 November 2026 • 2 min read